JK Cement Ltd Q3 net profit up 74.8 per cent

The company had posted a profit of Rs 124.29 crore in the October-December period a year ago, JK Cement said in a regulatory filing.

New Delhi: JK Cement Ltd on Saturday reported an increase of 74.82 per cent in its consolidated net profit to Rs 217.28 crore for the third quarter ended December 2020.

The company had posted a profit of Rs 124.29 crore in the October-December period a year ago, JK Cement said in a regulatory filing. Its revenue from operations was up 24.52 per cent at Rs 1,832.71 crore during the quarter under review as against Rs 1,471.78 crore in the year-ago period. JK Cement total expenses were at Rs 1,526.25 crore, up 15.73 per cent, as against Rs 1,318.80 crore of Q3/FY 2019-20.

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Meanwhile, JK Cement also informed that board of the company in its meeting held on Saturday approved setting up of an integrated greenfield grey cement plant of four millions tonnes per annum by its wholly-owned subsidiary Jaykaycem (Central) Ltd at Panna, Madhya Pradesh. With a split grinding unit in Uttar Pradesh, the project has an estimated cost outlay of Rs 2,970 crore.